Electricity Generating Public Company Limited or EGCO Group reported steady growth of the first 9-month performance with the significant achievements. Looking forward, the Company is continuously exploring new business opportunities both power business and other energy-related business to create sustainable growth.

Mr. Jakgrich Pibulpairoj, President of EGCO Group revealed the progress of the Company’s operating performance for the first nine months of 2019 that “EGCO Group satisfactorily achieved its steady growth as targeted. The normal operating profit before the effects of foreign exchange, deferred income tax and lease income was THB 8,073 million, an increase of THB 1,060 million or 15% when compared to the same period last year. Considering the third quarter of 2019 ending 30 September 2019, the Company recorded THB 2,564 million operating profit before the effects of foreign exchange, deferred income tax and lease income, an increase of THB 15 million when compared to the same period last year.

For the third quarter of 2019 until now, EGCO Group has been progressed well with the significant achievements. The Company has generated earnings in the 3^rd quarter from the San Buenaventura power plant in the Philippines which started its commercial operation on September 26, 2019. Additionally, the Company has successfully completed the construction of Xayaburi hydropower plant in Laos which started its commercial operation on October 29, 2019 and would thereby generate earnings from the 4^th quarter onwards. Regarding the success of new investment, EGCO Group expanded into other energy-related business through its 44.6% investment in Thai Pipeline Network Co., Ltd. to operate the “Oil Pipeline Extension to Northeastern Region” Project which the shareholders’ agreement was signed on September 25, 2019. The Project is on process of financing which is expected to be completed within the 1^st quarter of 2020. Meanwhile, the construction progress of the Project was about 19%.

The Company has presently 2 overseas power projects under construction which are progressing to plan and schedule. Those consist of the “Gangdong” fuel cell power plant in South Korea which is scheduled to start commercial operation in the 4^th quarter of 2020 and the “Nam Theun 1” hydropower plant in Laos which will be completed and start commercial operation in the 2^nd quarter of 2022. In addition, the other energy-related business “Oil Pipeline Extension to Northeastern Region” Project is also under construction and will start its operations in the 4^th quarter of 2021.

EGCO Group’s President added that “It is EGCO Group’s pleasure to be among 98 listed companies ranked in Thailand Sustainability Investment (THSI) 2019 list for five years in a row in Resources category. This reflects the fact that the Company have not only generated good economic returns, but also have been focusing more on operating in accordance with environmental, social and governance (ESG) aspects to contribute to sustainable growth. The THIS 2019 list has been used as quality investment information and a decision-making tool for investors.”

About EGCO Group

As of October 31, 2019, EGCO Group runs 28 operating power plants with total equity contracted capacity of 5,475 MW in 6 countries across Asia Pacific region – Thailand, Lao PDR, Philippines, Indonesia, Australia and South Korea. There are 2 projects under construction with total equity contracted capacity of 171 MW. The Company’s power plants generate electricity using various fuel sources such as natural gas, coal, biomass, hydro, solar, wind, geothermal and fuel cell.